Nature and Scope of Business
NIOS · Class 10 · Business Studies
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Quick Quiz: Nature and Scope of Business
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Which statement correctly defines business in terms of regular activity and profit?
Which one is an economic activity?
Which activity is a non-economic activity?
Which occupation is an example of employment?
Sample Questions
Which characteristic is correct for business?
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It involves risk and uncertainty of income
Business is affected by market changes, so income is uncertain and risk is involved.
Which statement about a cobbler making shoes for himself is correct?
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It is not business because there is no sale
Business requires sale or exchange. Making shoes only for self-consumption is not business.
Which one is a consumer good?
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Bread
Consumer goods are used directly by consumers. Bread is a consumer good.
Which one is a capital good?
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Machinery
Capital goods help in production. Machinery is a capital good.
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